Baku, Azerbaijan, Sept. 7
By Fatih Karimov - Trend: Austria is ready to invest in Iran's oil industry.
OMV's Chief Executive Rainer Seele met with Iran 's Oil Minister Bijan Namdar Zanganeh in Tehran, discussing ways to expand bilateral cooperation, Iran's Shana news agency reported on September 7.
He said OMV was not interested in Iranian gas projects, due to a lack of infrastructure.
Back in August, Seele said Iran is a big opportunity for OMV, but added currently the conditions for potential investors are not sufficient for us to enter into investment commitments."
In April 2007, OMV signed a Memorandum of Understanding (MOU) with the National Iranian Oil Company that envisaged OMV participating in Phase 12 of the South Pars gas field and in a plant that would liquefy the field's gas for export in LNG tankers.
However, the project stalled following pressure from the U.S. and European governments on Iran's nuclear program.
Last month, Tehran said it had identified nearly 50 oil and gas projects worth $185 billion that it hoped to sign by 2020.
Edited by CN